The Traderszone Network

Published in TZ Latest News 17 July, 2015 by The TZ Newswire Staff

U.S. inflation, housing data bolster rate hike argument

U.S. consumer prices rose for a fifth straight month in June as the cost of gasoline and a range of other goods increased, further signs of firming inflation that strengthen the case for an interest rate hike this year. Federal Reserve Chair Janet Yellen this week affirmed the U.S. central bank was keen to start raising interest rates later this year. The Labor Department said its Consumer Price Index rose 0.3 percent last month after increasing 0.4 percent in May. Last month’s increase pushed the year-on-year CPI rate into positive territory for the first time since December.